§ 19518. — 19518. (Added by Stats. 2018, Ch. 407, Sec. 1.)

An authorized fiduciary may not exercise the decanting power to modify a provision in a first trust instrument granting another person power to remove or replace the fiduciary unless any of the following occurs:
(a)
The person holding the power consents to the modification in a signed writing and the modification applies only to the person.
(b)
The person holding the power and the qualified beneficiaries of the second trust consent to the modification in a signed writing and the modification grants a substantially similar power to another person.
(c)
The court approves the modification and the modification grants a substantially similar
power to another person.

Legislative History

Added by Stats. 2018, Ch. 407, Sec. 1. (SB 909) Effective January 1, 2019.